In a significant development for Rivers State governance, Vice Admiral Ibok-Ete Ibas (retd.), the immediate past Administrator of Rivers State, met with President Bola Tinubu at the Aso Rock Presidential Villa on Wednesday, September 24, 2025. The high-profile meeting, attended by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and Economic and Financial Crimes Commission (EFCC) Chairman Ola Olukoyede, has sparked widespread interest amid ongoing calls for financial probes into the state's emergency rule period.
Key Details of the Aso Rock Encounter
Ibas, who concluded his six-month tenure as Rivers State Administrator on September 17, 2025, arrived at the State House around 6 p.m. He was escorted into the private audience by Edun and Olukoyede, with the Finance Minister notably seen returning with a confidential file in hand. This strategic gathering occurs just three days after the Rivers State House of Assembly, led by Speaker Martin Amaewhule, announced plans to scrutinize expenditures during the emergency administration.
A source close to the Presidency confirmed to reporters that the discussions centered on Ibas' stewardship of the oil-rich Niger Delta state, highlighting key economic decisions and fiscal management under the six-month emergency rule imposed by President Tinubu. The rule, which ended last week, saw the reinstatement of suspended Governor Siminalayi Fubara, his deputy, and assembly members.
Rivers Assembly Pushes for Emergency Rule Financial Probe
The Rivers State House of Assembly, resuming its first plenary post-emergency, passed a resolution to investigate state spending from the Consolidated Revenue Fund. This includes contract awards and other disbursements during Ibas' administration. The probe aims to ensure transparency in how resources were allocated in the resource-abundant state, amid Nigeria's broader push for accountable governance.
Speaker Amaewhule's chamber emphasized exploring "what transpired during the emergency rule," underscoring the assembly's commitment to fiscal oversight in Rivers State politics.
Massive FAAC Allocations Under Ibas' Watch: N254 Billion Revealed
Exclusive analysis by investigative journalists uncovers that Rivers State received a staggering N254.37 billion from the Federation Account Allocation Committee (FAAC) between March and August 2025—equivalent to an average of N42.40 billion monthly during Ibas' tenure.
Breakdown of Rivers State FAAC Allocations (March-August 2025):
Month | Allocation (N Billion) |
|---|---|
March | 44.66 |
April | 44.42 |
May | 42.80 |
June | 42.30 |
July | 38.42 |
August | 41.76 |
Total | 254.37 |
Data sourced from the National Bureau of Statistics (NBS) official releases up to June, supplemented by FAAC meeting documents for July and August. This influx underscores Rivers State's pivotal role in Nigeria's oil economy and raises questions about investment impacts on local development, job creation, and infrastructure.
Reactions and Unanswered Questions
When reached for comment, Hector Igbikiowubo, media aide to the former administrator, stated he was unaware of the Aso Rock meeting but pledged to investigate and respond. As of Wednesday night, no further updates were provided.
The meeting's opacity—details remain undisclosed—fuels speculation on potential EFCC involvement in reviewing Rivers State finances. Stakeholders in Nigerian politics and economic policy are watching closely, as outcomes could influence future governance in the South-South region.
Implications for Rivers State and Nigeria's Economy
This rendezvous signals President Tinubu's administration's focus on post-emergency transitions and economic accountability in volatile states like Rivers. With the Niger Delta's oil revenues at stake, enhanced transparency could unlock investments, boost industrial growth, and mitigate economic losses plaguing the region.
As Nigeria navigates fiscal challenges in 2025, the Ibas-Tinubu dialogue exemplifies efforts to harness state resources for national prosperity. Follow our blog for real-time updates on Rivers State news, Nigerian politics, FAAC allocations, and EFCC investigations.
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